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Economy - Coggle Diagram

- - - - Religious change (return to style of worship under Henry VIII) enclosures, rising rents, poor harvests (1549,50, 51)
      - Landlords abusing power + unfair local governmentt.
      - Main anger at local gentry
        
        Enclosure of common land
        
        Overgrazing by sheep
        
        Rabbits damaging tenant land
        
        Doves eating seeds
        
        Abuse of local power by landlords
        
        Common grazing rights were essential
    - - DOFS slow to act, rebels defeated only after 3,000 killed at Dussindale.
      - Kett executed—Northumberland (then Warwick) took harder stance on rebellion.
      - Govt ordered dispersal → rebels refused
    - - Rebels were commoners (tenant farmers + freeholders- not poor
      - 16,000 rebels under Robert Kett seized Norwich (wealthier tenant)
      - Issued 27-article petition from Mousehold Heath.
      - Tree of Reformation
        
        Gentry brought before symbolic “trials”
        
        Accused of abuses
        
        Some imprisoned by rebels
        
        Began as peaceful petitioning movement
      - Somerset sent pardon + ordered rebels to disperse
        Rebels refused to go home
- - - - Expensive wars with France + Scotland drained royal finances
      - Great Debasement caused serious inflation + falling confidence in currency
      - Poor harvests worsened prices and hardship
      - Government debt was high and financial administration was inefficient
      - → Northumberland’s main aim = restore stability + reduce Crown debt
    - - Redued spending
        
        Ended foreign wars → cut military expenditure
        
        Sold back Boulogne to France
        
        Paid off expensive mercenary troops
        
        Created smaller cavalry force of 900 men (later disbanded)
      - Asset liquidation
        
        Sold chantry lands + church plate to raise money
        
        stablished emergency reserve fund = Privy Coffer
  - - - Repeated debasement had reduced trust in coinage
      - By 1551, silver content had fallen badly (1 shilling worth only about 3d)
    - - May 1551: final debasement (25% silver drop)
      - 1552: old coinage called in + reissued to 1527 silver standard
    - - Restored confidence in money
      - Helped reduce inflation in the long term
    - - Government announced reforms too early → spending spree before coins lost value
      - Inflation worsened in short term
      - Full success only achieved under Elizabeth I